Gold and silver are surging

Gold and silver are having a huge day.

On Monday, gold rallied by more than 2%, or $US30 an ounce, to as high as $US1,206. It’s back above the key $US1,200 level for the first time in around a week.

Silver surged by nearly 5% to as high as $US16.48 an ounce.

According to Reuters, this could be the biggest one-day pop for both precious metals since January.

Here’s a chart showing the jump in gold:

And in silver:

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